Projected Growth of Gambling Revenue from Sports Betting to Reach $38 Billion over the Next Four Years, According to Research
Title: Betting Market Soars: Here's What's driving the Boom
Exciting news from the gambling industry! A recent study by H2 Gambling Capital, in partnership with the International Association of Honesty in Betting and Partners, predicts a spectacular rise in the global betting market, especially in the online sector.
By 2028, the total betting market is expected to touch an astonishing $132 billion, with 70% of it, approximately $93 billion, coming from online sources.
Asia, particularly countries like China and India, are showing a growing interest in betting, with sports like football and cricket fueling the trend. Interestingly, football remains the favorite sport for bettors, who account for an impressive 56% of the total gross winnings. By 2024, it's projected that 85% of football betting wins will be generated by Europe and Asia.
Basketball betting is also on the rise, with North America leading the pack. It's estimated that the continent's basketball betting revenue will reach a whopping $5.4 billion by 2028.
Spotlight on Legality:This year, a significant 83% of all bets are expected to be placed on licensed platforms, marking a significant increase from the 63% recorded in 2018.
Statistical Figures to Ponder:- The global betting market is on a growth spree, with online gambling poised to reach an estimated $133.59 billion by 2029.- Sports betting, as part of a broader $244 billion industry, is predicted to experience substantial growth by 2028.- In North America, the revenue for betting reached $11.04 billion in 2023, with over 25 million participants in 2022, projected to surge 47% by 2025.- South America, although a smaller market, leads globally in growth with a projected 13.7% Compound Annual Growth Rate (CAGR) until 2028.
In essence, the betting market is experiencing a robust growth spurt across the globe, with distinct regional and segment-specific trends emerging. It's an interesting time to keep a close eye on this dynamic and ever-evolving industry!
Gambling platforms in Asia, particularly in countries like China and India, are witnessing a growing interest in online casino-games and sports-betting, with football and basketball being popular choices. By 2028, the global betting market is projected to reach an astonishing $133.59 billion, with nearly 83% of all bets being placed on licensed online platforms. The sports-betting sector, amounting to $244 billion, is set for substantial growth by 2028. North America's basketball betting revenue is estimated to reach a whopping $5.4 billion by 2028, while South America, though smaller, is leading globally in growth with a predicted 13.7% Compound Annual Growth Rate (CAGR) until 2028. This reveals a robust growth spurt in the online casino-and-gambling industry across the globe, with distinct regional and game-specific trends emerging.
